Builders Are Drowning the Discount in Volume as New-Home Supply Thins to 8.5 Months
Two supply numbers crossed my desk on Thursday and they point in opposite directions. New-home inventory sat at an annual pace of just 8.5 months of supply in August , the thinnest since spring, per Census and HUD data released September 25. Resale inventory, meanwhile, climbed to 4.9 months of supply in August, the highest in more than a decade, per the National Association of Realtors' September 10 report. The same market cannot be both tight and loose, and the spread between those two numbers is now the clearest single fact about housing heading into the fourth quarter.
Key Takeaways New-home months of supply fell to 8.5 in August 2026 from 9.0 in July, per Census and HUD data, even as the…
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